Nexera Energy : February/March Investor Presentation

February/March Investor Presentation

Cautionary Statements And Risk Factors That May Affect Future Results

These presentations include forward-looking statements within the meaning of the federal securities laws. Actual results could differ materially from such forward-looking statements. The factors that could cause actual results to differ are discussed in the Appendix herein and in NextEra Energy's and NextEra Energy Partners' SEC filings.

Non-GAAP Financial Information

These presentations refer to certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles. Reconciliations of those non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the Appendix herein.

Other

See Appendix for definition of Adjusted Earnings, Adjusted EBITDA, and CAFD expectations.

2

NextEra Energy is an industry-leading clean energy company

65 GW	$145 B	$159 B
In Operation(1)	Market	TotalAssets(3)
	Capitalization(2)

Clean Energy

Generation Portfolio

Integrated Supply Chain, Engineering and Construction

Best-in-class Operations and Innovation Leader

Power Delivery and

Transmission

The largest electric	The world leader in
utility in the United	electricity generated from
States by retail MWh	the wind and sun and
sales and number of	world leader in battery
customers	storage

NextEra Energy's two businesses are

supported by a common platform

	1)	Gigawatts shown includes assets operated by Energy Resources, including those owned by NextEra Energy
		Partners as of 12/31/2022; excludes assets which have been sold to third parties but continue to be operated by
		Energy Resources
	2)	As of 2/23/2023; Source: FactSet
3	3)	As of 12/31/2022

NextEra Energy has a long-term track record of delivering value to shareholders

Adjusted Earnings Per Share

Total Shareholder Return(1)

~8.3%

$2.90

669%

~480%

CAGR

Outperformance

$0.88

541%

vs.S&P500

Utilities

379%

'07

'08

'09

'10

'11

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

Dividends Per Share

226%

	$1.70	98%
~9.9%		75%

CAGR

S&P 500 255%

S&P 500 Utilities 191%

$0.41

'07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

We believe NextEra Energy continues to offer the best investor value

proposition in the industry

4	1) Source: Factset; assumes dividends are reinvested; 15-year returns ending 12/31/2022; S&P 500 sector indexes

Considering our historical track record and growth prospects, NextEra Energy offers an attractive value proposition

Payout Ratio(4)

Adjusted EPS CAGR 2012 - 2022

Top 10 Power Companies(1)

9.8%

				7.4%	6.4%						Average
										excluding
						5.0%
						3.5% 3.1% 3.1%		NEE: 3.9%
										2.7% 2.6%	1.5%
	NEE	A	B	C	D	E	F	G	H	I
				DPS CAGR 2012 - 2022
				Top 10 Power Companies(1)
11.0%								Average
				6.7% 6.2%						excluding
				5.4%	4.3%				NEE: 3.3%
						3.3% 2.8% 2.7% 2.4%
												(4.3%)
	NEE	A	B	C	D	E	F	G	H	I
59%		52%	58%	63%	63%	74%	71%	65%	71%	57%

Total Shareholder Return 2012 - 2022

Top 10 Power Companies(1,2)

528%

Average 261% 218% 194% 193% 162% 152% 146% excluding NEE: 150%

75%

(52%)

NEE A B C D E F G H I

Current PEG Ratio

Top 10 Power Companies(1,3)

9.2x

							Average of
4.4x							Top 10 Power
3.8x	3.5x	3.5x	3.3x	3.0x	Companies: 3.9x
	2.8x
						2.6x	2.6x

A B C D E F G H

I NEE

5

1. Top ten U.S. power companies by market capitalization as of 12/31/2022; based on internal analysis using publicly available data
2. Source: Factset; assumes dividends are reinvested
3. 2023 PEG Ratio (Price/Earnings to Growth Ratio) as of 2/21/2023; source FactSet
4. 2022 payout ratio using 2022 dividend over actual adjusted EPS or consensus adjusted EPS